Weekly STOCH RSI triggered my interest in this one. Were siting nicely on top of the Weekly 200ma.
The Daily has collected the MA;s and looking perky. Still have some room in the MACD for this leg.
I'm treating the trade as a simple 382 - 618 trade for my RR from recent pull back.
Because of this i will break the norm and manage the trade in thirds. Usual 1/3...
MA's are going my way. CCI crossing nicely. Breaking through resistance here. May be a little early with the entry, possibly another leg of correction. Targeting previous highs and 236. Usual practice for stop loss mgmt
We see a set of bullish hammers and stochastic turning from an oversold position.
On top of that, there is a crossover of DI+ and DI- which may mean the market will trend upwards soon!
